|
|
|
ELYSIAN RESIDENCES LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
Elysian Residences Limited is a private limited liability company registered in England and Wales. Its registered office and business address is 42 Bruton Place, London, W1J 6PA.
The principal activity of the company is that of a holding company.
The financial statements are presented in Sterling (£), which is the functional currency of the company.
2.
Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
|
|
Exemption from preparing consolidated financial statements
|
The
Company
, and the
Group
headed by it, qualify as small as set out in
section 383 of the Companies Act 2006
and the parent and
Group
are considered eligible for the exemption to prepare consolidated accounts.
Investments in subsidiaries are measured at cost less accumulated impairment.
The company only enters into transactions that result in basic financial instruments such as other debtors, other creditors and loans to/from related parties.
Other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of other debtors and loans to related parties.
Equity dividends are recognised when they become legally payable.
|
The average monthly number of employees, including directors, during the year was
2
(2018 -
2
)
.
|
|